The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1887-12-07
PRECIOUS METALS.

Operations OF the United States Minis Dur
Ing the Past Year.
The Director of the Mint, in his annual
report of the operations of the minis and
assay offices for the fiscal year 1887, states
that the value of the gold and silver re-
ceived at the minis and assay offices during
the year was greater than in any previous
year since 1881. The value of the gold
deposited was $SS. 223,072. In addition
there were redeposits of the value Of $751;
1896. The value of the silver deposited
and purchased was SAT, 756,9lS. In addi-
ton there were redeposits of silver
amounting to $462, 113.
OF the gold deposited, 32,973, 027 was
of domestic production, 500, ST. 1923 of
foreign gold bullion, $9.396,512 of foreign
gold coin, $5l6,9S4 of United States gold
coin, and g, 265, 219 of old material. The
coinage of the fiscal year was as follows
Gold, 3, 724, 40 pieces; value 81, 1896, 279.
Silver, A 49,, 1888 pieces; value S34, $685.
4S3. Minor coins, 80, l66, 500 pieces; value
$943,6 $50. In addition to the coinage exc
cuted during the year, gold and silver bars
were manufactured as follows: Gold, $685.
188,953; silver. $6.4Sl,6l1. The silver
bullion purchased during the year for the
silver dollar coinage was 20, 433, 342 stand
ard ounces Of the cost of So, 1888, 500. The
average cost was $0.9S. 1912 per ounce.
The average London prices for the year at
the average rate of exchange was S0.9S 14S.
The number Of silver dollars made was
SO, 266, 1881. Ten million nine hundred and
one thousand nine hundred and twenty
eight silver dollars were distributed from
the minis during the year, and 10000, 900
transferred to the treasury.
The seignorage OF the silver dollars
4 tIax
on the subsidiary silver S31, 764. The
number of trade collars redeemed by the
Treasury of the United States under pro-
vision of the act of March 3, 1887, author
izing their redemption, was 1853, 036. The
number imported from the passage of the
act to Sept. 4, 1887, was S30S0l. The
trade dollars redeemed have all been trans
ferred to the minis or the assay Office at
New York and me lied into bars ready for
coinage. The loss by abrasion was 40, DID,
70 standard ounces, equivalent to 1851
trade dollars. If the trade dollars re-
deemed are coined into subsidiary silver
the profit, exclusive of operative wastage,
will be $63i,574. If coined into standard
silver dollars, $50. 004.
The mint at Philadelphia has been taxed
to its utmost capacity TO execute the large
minor coinage demanded of it in addition
10 tile udnuuCOTN COinhSe Vi silver QOlIarb.
Notwithstanding the large number of pieces
struck, the demand for minor coins is still
far beyond the capacity of the mint to
promptly fill the orders.
The expenditures for the service of the
minis and assay Offices during the year
were 81, 1885, 500. The expenses of the acid
refineries were S165, 1897, against an earn
ing of $143,2 5S. The total earnings from
all sources amounted to SS,S42, Sl9, and
the total expenses and losses Of all kinds to
81 ,437 ,432.
The value Of the gold and silver bars is-
sued from the United States Assay Office
at New York and the mint at Philadelphia
for use in the industrial marts during the
year was $685., 10 gold and S4.471 ,646
silver.
The Director estimates the stock Of coin
in the United States to have been on the
first day of July, 1887: Gold, $500, OOS,-
065; silver, S342,537, 916. In addition,
there was bullion in the minis as follows:
Gold, S85, 512.2 70; silver; SIC, $40.
The Director estimates the stock of gold
ana silver coin in the United States on Nov.
1, 1887, to have been: Gold. 1914, 927,-
S73; silver dollars, S277, 11O,157; sub
sidiary silver, SIS, 1853, 1876.